The retail banking market in Belgium is, behind Switzerland, one of the most profitables in Europe. It is also one of the most advanced European markets in terms of digital banking usage.
In this category, Belgium is one of Europe's most app-oriented markets..
This may seem as the perfect market for the development of neobanks. However, their expected disruptive effect has not been observed yet in Belgium, compared to other markets like France.
Ratings of Retail Banking Market in Belgium 2019:
Focusing on the 11 main players in the Belgian retail banking market, we see in 2019 an increasingly clear separation between two groups of players:
Between BB+ and BBB+, the market leaders in digital performance, some of which rival the best standards of neobanks,
Between B+ and BB-, the other players, which lag significantly behind in all dimensions of digital performance.